Loan Products
Whether you need funds to expand your business, purchase inventory, or invest in new technology, our SME loans are designed to fuel your growth. With competitive interest rates, flexible repayment plans, and a hassle-free application process, we’ll support you every step of the way.
01
Business Support Facility
Business Support Facility, BSF, is a lending scheme targeted at SMEs (i.e Registered Businesses) to augment working capital and reduce cumbersome collateral requirements. BSF guarantees quick access of up to N5million with no collateral at an attractive interest rates.
Features
Requirements
Who can apply for BSF?
How can I access BSF?
For easy application process and for further details, visit Sterling.ng/business-loans or any Sterling Bank Branch or email us at [email protected].
Documentation
- MSME Loan application form.
- Minimum of six (6) months account statement with Sterling Bank and 12 months statement from other Banks.
- Customer’s stock position report(for traders)
- Business Registration Documents (Company must be operating for at least 3 years).
- For businesses that their date of incorporation is less than 3 years, provision of the promoter’s 3years account statement prior to business registration is required for validation.
- Last 3 years audited financials prepared by any of the Bank’s approved auditors and a management account if the current year is less than 12months (for amount above N25m)
- Board Resolution (for Limited Liability Company)
- License to operate (where applicable)
Features
Requirements
Who can apply for DFF?
How can I access DFF?
For easy application process and for further details, visit any Sterling Bank Branch or email us at [email protected]
Documentation
- MSME Loan application form.
- Minimum of six (6) months account statement with Sterling Bank or 12 months statement from other Banks.
- Customer’s stock position report (for traders)
- Business Registration Documents
- Documentary evidence of distributorship arrangement with the FMCGs for a minimum of 12 months.
- Letter of introduction from the manufacturer, identifying the obligor as a distributor of its product.
- Last 3 years audited financials prepared by any of the Bank’s approved auditors and a management account if the current year is less than 12months (for amount above N25m)
02
Distributorship Finance Facility
Distributorship Finance Facility, DFF, is an overdraft facility availed to distributors, wholesalers, or retailer to enable them purchase goods/products from Manufacturer/key distributors.
03
Asset Financing
Asset Financing, is a facility that provides businesses with finance to acquire assets for their business operations
Requirements
Who can apply for Asset Financing?
How can I access Asset Financing?
For easy application process and for further details, visit any Sterling Bank Branch or email us at [email protected]
Documentation
- MSME Loan application form
- 12 months statement with Sterling bank or other Banks.
- Pro-forma invoice for the asset
- Business Registration documents
- Board Resolution (for Limited Liability Company)
- Projected cashflow that covers the proposed loan tenor with verifiable notes and assumptions
- License to operate (where applicable)
- Last 3 years audited financials prepared by any of the Bank’s approved auditors and a management account if the current year is less than 12months (for amount above N25m)
Given the increasing demand for healthcare services and the inadequacy of Government’s intervention in the sector, private sector participation has been on the rise across the entire value chain of the sector. Consequently, greater emphasis is placed on the growing private healthcare market, which makes it a focal point for prospective investors to examine.
Nigeria has one of the highest numbers of out of school children, one of the lowest budgets by the government for education and a large youth population- all three issues providing both a crisis and a blessing. For us, given the realization that the government alone cannot cater to the large need of the population provides us with an opportunity.
‘Feeding the Nation is everyone’s responsibility’. This is the mantra that guides our actions in the Agriculture sector.
Nigeria in its history of electricity generation has not had adequate supply of electricity thus leaving it behind on various innovation in the globalized world. As the country’s economy develops further, the demand for energy will increase. Already, the lack of adequate power supply cripples’ industries and slows industrialization. Globally, the gradual diminishing of fossil fuels and the efforts to save the eco-system from global warming has seen nations turning to alternative sources to meet their energy demands.
In many developing countries, the transportation sector contributes between 6% to 14% of the GDP but contributes below 1.5% to
Nigeria’s GDP. An efficient transport system optimizes the value chain in any economy and impacts on other sectors of the economy. The introduction of new technologies, new players and changing customer behaviours provide the sector with the potential to transform as a system and for new business models to develop.
04
Tailored loan for H.E.A.R.T Sector
How to apply for any of the H.E.A.R.T sector loan?
For easy application process and for further details, visit any Sterling Bank Branch or email us at [email protected]
05
Business Revolving Facility
Business revolving facility is for business owners. It provides customers with access to financing to supplement working capital needs such as stock, raw material purchases, sales and distribution of their goods, and other overhead expenses.
Requirements
Who can apply for Business Revolving Facility?
How can I access Business Revolving Facility?
For easy application process and for further details, visit any Sterling Bank Branch, email us at [email protected], or fill an interest form here.
Documentation
- MSME Loan application form.
- Minimum of six (6) months account statement with Sterling Bank or 12 months statement from other Banks.
- Customer’s stock position report(for traders)
- Business registration documents
- Last 3 years audited financials prepared by any of the Bank’s approved auditors and a management account if the current year is less than 12months (for amount above N25m)
- License to operate (where applicable)
Requirements
Who can apply for Contract Finance Facility?
How can I access Contract Finance Facility?
For easy application process and for further details, visit any Sterling Bank Branch, email us at [email protected], or fill an interest form here.
Documentation
- MSME Loan application form
- Minimum of six (6) months account statement with Sterling Bank or 12 months statement from other Banks.
- Cashflow projection covering the tenor of the proposed facility
- Schedule of duly confirmed invoices to be discounted stating amount, Purchase Order and due date duly confirmed by the Principal (for Invoice Discounting Facility)
- Profitability Analysis (for LPO and Contract Finance)
- Evidence of track record (if any) (for LPO, Contract and Invoice Discounting Facility)
- Copy of confirmed contract/ LPO/ letter of award (for LPO and Contract Finance)
- Bill of Quantity for the project/work schedule to be prepared by a professional Quantity Surveyor (where applicable)
- Documentary evidence of similar supply contracts executed by the customer in the past (e.g. past Purchase Orders, Work Completion Order, and invoices issued)
- Valuation Report from the contractor itself –if the contract is on-going
- Documentary evidence of past payments made by principal (e.g. Bank account statement).
06
Contract Finance Facility
Contract finance facilities are structured loans to meet business needs and it comprises of:
- Local purchase order finance
- Contract Finance Facility
- Invoice Discounting Facility
